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South Korean hosting firm shells out $1M in yet another ransomware hack

In a nightmare scenario, South Korean web hosting firm Nayana announced that last week it had suffered a massive breach affecting more than 150 of its servers. But perhaps more troubling was the fact the attackers had managed to take control of an immense amount of user data. In exchange, the hackers demanded nearly $4.4 million in Bitcoin to return the data back to the company. Following eight days of back and forth bargaining, the two sides have now settled on a ransom fee of around $1 million in Bitcoin, which Nayana will pay out in three instalments. The first two…